PG&E to get pulled out of S&P 500, shares near 2001 lows
FILE PHOTO: PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage/File Photo
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** Embattled power utility company PG&E Corp (NYSE: PCG) will be replaced by healthcare equipment maker Teleflex Inc (NYSE: TFX) in the S&P 500 <.SPX> on Friday
** PG&E shares were down 4.1 pct, trading near 2001 lows following its plans to seek Chapter 11 protection in the wake of large potential claims related to California's catastrophic wildfires
** Session's decline bring PCG's WTD decline to ~61 pct; Co said on Sunday CEO Geisha Williams stepped down and announced bankruptcy protection plans on Monday
** Teleflex will be replaced by consumer finance co Green Dot (NYSE: GDOT) in the S&P MidCap 400 index, S&P Global said; TFX shares dip 1.2 pct
** Softwood pulp producer Mercer International Inc (NASDAQ: MERC) will replace Green Dot in S&P SmallCap 600 index; MERC jumps 15.7 pct and GDOT drops 2.7 pct
** Changes will be reflected before trading opens on Friday, S&P said
(Reporting by Sruthi Shankar in Bengaluru)
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